If your credit history is in shambles and you are looking for ways to rebuild your credit again, then an Orchard credit card is an excellent choice. Although there are many credit cards available for the individuals who have bad credit score, not all of them are good choices. This credit card is issued by HSBC bank and offers a decent interest rate, periodic credit limit adjustments and low start up fees. The main benefit of this card is that all the three credit bureaus would receive reports on your management and spending habits. This is done monthly and helps your poor credit to improve. Furthermore, as this card has master card logo, it is accepted worldwide and one can use this card to make car rental or hotel reservations or purchase online.
Secured Orchard Credit Card
One of the Orchard credit card options is a secured card which means that you need to deposit money in the card account in order to use it unlike any other unsecured credit card which offer credit limit. This predetermined amount is deposited in a special account and it becomes the credit line that is available for spending. As the balance decreases, you can add additional funds, keeping to the limit that is set forth by Orchard Bank’s terms and conditions. Once you handle your account responsibly, Orchard Bank will offer you one of its unsecured Orchard credit cards.
Besides getting excellent customer service, you can access your Orchard credit card account online 24/7 for better account management. You will be regularly notified about due payments through email or text messages. This is very helpful in making sure that you are not late in making payments, thus helping you build your credit score. The annual percentage rate ranges from 7.90% to 19.90%, basing on your credit score. If you are trying to spend more than the allowed payments, the default APR would be as high as 29.49%.There are three types of Orchard credit cards which offer different benefits and you can choose the Orchard Credit card for you according to your needs.